Insider Selling: Royal Bank of Canada (TSE:RY) Director Sells 20,304 Shares of Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76.

Royal Bank of Canada Trading Up 0.2 %

Shares of TSE:RY opened at C$175.96 on Friday. Royal Bank of Canada has a 12-month low of C$127.60 and a 12-month high of C$180.45. The business’s fifty day simple moving average is C$174.33 and its 200-day simple moving average is C$165.96. The company has a market capitalization of C$248.10 billion, a PE ratio of 15.59, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 3.36%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is 50.31%.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. BMO Capital Markets reduced their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Scotiabank raised their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, National Bankshares raised their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus price target of C$176.58.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.